RC_LA_CR_300.2 Laws and Regulations for Customer Service Representatives

The federal government believes that the consumer should be protected from discrimination and other unfair lending practices. In order to ensure that these rights are upheld, the government passed several acts related to the financing of housing.

Federal, state, and local governments regulate the mortgage lending industry quite heavily. In addition, mortgage companies and secondary market investors monitor their loans for compliance with the regulations. Many of the laws and regulations affect the manner in which companies do business with borrowers. Some of these laws and regulations are quite broad and affect all areas of customer service; some are quite specific and apply to only one function in loan administration.

Laws and Regulations for Customer Service Representatives provides an overview of the major laws and regulations that impact interactions between customer service representatives (CSRs) and borrowers. This course covers the Equal Credit Opportunity Act, Fair Housing Act, Home Mortgage Disclosure Act, and the Community Reinvestment Act. It then moves to look at customer privacy including Gramm-Leach-Bliley Act, Fair Credit Act, and Do Not Contact laws. Finally, the course examines other laws related to mortgage lending such as the Truth in Lending Act, Fair Debt Collections Act, and the Real Estate Settlement Procedures Act.

This is a single-family/residential course.

Topics:

• Laws That Govern Fair Lending
• Customer Privacy
• Other Laws Affecting Mortgage Lending

Seat time approximately 1 hour.

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